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Webnews: Chiefs extend Alex Smith

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By Mike Florio
Alex Smith was prepared to pull the plug on contract talks if they ever became a distraction. It never got to that point. After an intense and largely secretive day of negotiations, the Chiefs and Smith have worked out a four-year, $68 million extension. Per a league source, Smith gets $30 million guaranteed at signing. …Read more…

Excellent. Happy this is now out of the way, price tag could've been much, much worse (look at Tony Romo's deal...). Reid gets another four years to sort out future QB's without sacrificing the present.

Totally worth the price. Alex held true to his word and i think all sides win. He performs he gets paid, he falls off for whatever reason we aren't handicapped by a ludicrous contract. Good job mr Dorsey!

So if I understand things correctly, He's got $37.5 million in his pocket....$7.5 million for this season plus $30 million no matter what. Do I have that about right?

And maybe another $38 million if he's still our QB for the 2018 season.

So for the next 3 years he costs a MINIMUM of about $56.5 million. Again....DO I HAVE THIS ABOUT RIGHT? I figure $7.5 for this year.....plus $30 million guaranteed....plus roughly $19 million for just staying on the team in 2015 and 2016. IS MY MATH RIGHT????? It is late and I am tired so it might not be.

But if I have my ducks in a row then he costs us about $18.84 million per year for ''14, '15 and '16. At which point maybe Bray or Murray steps up.

I am not thrilled with this contract (though I am thrilled we got the extension done) but in the REAL WORLD as opposed to my world I think Dorsey made a decent deal, but I am not impressed by Dorsey's negotiating skills.